December 22nd Morning Report

The US market closed higher on Friday after a rocky start to the week, as a rebound in technology shares offset tumbling consumer stocks such as Nike. Megacaps extended gains from Thursday, when chipmaker Micron Technology's strong forecast re-ignited optimism around AI-related shares, which had recently come under pressure over lofty valuations and funding concerns.

The Dow Jones Industrial Average up 0.38%, while the S&P 500 and Nasdaq Composite were up 0.88% and 1.31% respectively.

Other key markets ended higher. European stocks closed as follows: the FTSE100 (+0.61%), the Dax 30 (+0.37%), CAC 40 (+0.01%) and the STOXX (+0.32%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(+1.03%), HSI (+0.75%) and the Shanghai Composite (+0.36%).

The yield on the US 10 - year note was at 4.149%, while the 2 - year note was at 3.485%. Oil was down to $56.52 per barrel, up 0.93%. The gold price was at US$4387.30 per ounce, up 0.52%. 

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